Property Type

Oakley Group Purchases 110-Unit Deerfield Place Apartments in Florence, Alabama

by John Nelson June 4, 2024

FLORENCE, ALA. — Birmingham-based Oakley Group has acquired Deerfield Place, a 110-unit apartment community located at 137 Deerfield Place in Florence. Built in 2018 and totaling 137,500 net rentable square feet, the property comprises 13 one- and two-story buildings. Pinehurst Investments, the original developer, sold the community to Oakley Group for an undisclosed price. David Sizemore of CommerceOne Bank arranged acquisition financing on behalf of the buyer in the form of a fixed-rate, five-year loan. The property was 95 percent occupied at the time of sale. Oakley Group plans to implement improvements to the community, including the addition of a fitness center and outdoor gathering place. Arlington Properties will continue to serve as the onsite management firm on behalf of the new owner.

June 4, 2024

Industrial Leasing Activity Louisiana Southeast

Feil Organization Signs Two Industrial Leases Totaling 20,700 SF in Elmwood, Louisiana

by John Nelson June 4, 2024

ELMWOOD, LA. — The Feil Organization has signed two industrial leases totaling 20,700 square feet at Elmwood Distribution Center in Elmwood, about nine miles west of New Orleans. Mayesh Wholesale Florist and 1-800 Radiator will occupy 9,500 and 11,200 square feet at the property, respectively. Built in 1974, Elmwood Distribution Center totals 411,689 square feet at 5600 Jefferson Highway, with warehouse suites ranging from 5,625 to 25,000 square feet. Bert Duvic of Max Derbes represented 1-800 Radiator in the lease negotiations. Gerard Henry, also of Max Derbes, represented Mayesh Wholesale Florist. Feil was represented on an in-house basis by Katina Spera.

June 4, 2024

Development Industrial Self-Storage Texas

Bakke, Batson-Cook Break Ground on 751-Unit Self-Storage Facility in San Antonio

by Taylor Williams June 4, 2024

SAN ANTONIO — A partnership between San Antonio-based Bakke Development Corp. and Atlanta-based Batson-Cook Development Co. (BCDC) has broken ground on a 751-unit self-storage facility at the corner of SW Loop 410 and Palo Alto Road in San Antonio. The facility will span 86,475 net rentable square feet of space. Project partners include Alamo Architects, civil engineer INK Civil, general contractor Independent Contractors and construction lender Security State Bank. Completion is slated for the second quarter of 2025. The project marks the seventh self-storage collaboration between Bakke and BCDC, with construction on the most recent project, a 773-unit facility in Weslaco, beginning earlier in March.

June 4, 2024

Industrial Leasing Activity Texas

Control Panels USA Preleases 145,950 SF Industrial Project in Georgetown, Texas

by Taylor Williams June 4, 2024

GEORGETOWN, TEXAS — Control Panels USA has preleased a 145,950-square-foot industrial project in the northern Austin suburb of Georgetown. The manufacturer will occupy the entirety of Building 2 at CrossPoint Business District, the first phase of which will feature 488,758 square feet across three buildings and 61.7 acres. The company expects to take occupancy in January 2025. Darryl Dadon and Olivia Reed of CBRE represented the landlord, a partnership between Jackson-Shaw and Diamond Realty Investments, in the lease negotiations.

June 4, 2024

Acquisitions Hospitality Self-Storage Texas

Marcus & Millichap Arranges Sale of Storage, Hospitality Portfolio in Quinlan, Texas

by Taylor Williams June 4, 2024

QUINLAN, TEXAS — Marcus & Millichap has arranged the sale of The Lake Tawakoni Portfolio, a collection of storage and hospitality properties in Quinlan, about 45 miles east of Dallas. The portfolio consists of 219 RV sites, 198 storage units, 39 cabins and 39 boat slips across three properties. Brad Dorsey, Skyler Henderson, Blake Eisenberg, Edgar Martinez and Katie Eaton of Marcus & Millichap brokered the deal. The buyer and seller were not disclosed.

June 4, 2024

Acquisitions Net Lease Retail Texas

Boulder Group Arranges $3.7M Sale of Net-Leased Retail Building in Norman, Oklahoma

by Taylor Williams June 4, 2024

NORMAN, OKLA. — The Boulder Group, a brokerage firm specializing in single-tenant, net-leased retail deals, has arranged the $3.7 million sale of a building at 3501 NW 36th Avenue in Norman, Okla. CVS occupies the building, which according to LoopNet Inc. was built in 2010 and totals 12,888 square feet. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a California-based 1031 exchange investor, in the transaction. The seller was undisclosed.

June 4, 2024

Leasing Activity Mixed-Use Texas

Noble 33 Opens 14,000 SF Mexican Steakhouse Restaurant at The Allen in Houston

by Taylor Williams June 4, 2024

HOUSTON — Hospitality group Noble 33 has opened Toca Madera, a 14,000-square-foot Mexican steakhouse restaurant, in Houston. The space is located within The Allen, a mixed-use development near Buffalo Bayou Park and can accommodate almost 400 patrons. Monochrome designed the restaurant space, which also features an outdoor dining patio, two full-service bars, a private member’s club and a private dining room. Locally based developer DC Partners owns The Allen.

June 4, 2024

Hudson-Valley-Logistics-Center-East-Fishkill

Industrial Leasing Activity New York Northeast

Automotive Manufacturer Preleases 540,688 SF Industrial Project in East Fishkill, New York

by Taylor Williams June 4, 2024

EAST FISHKILL, N.Y. — A global automotive manufacturer has preleased the entirety of Hudson Valley Logistics Center, a 540,688-square-foot industrial project that is under construction in East Fishkill, about 60 miles north of New York City. The name of the tenant was not disclosed, but local publication Mid Hudson News reports that the company is Stellantis, a multinational manufacturer based in The Netherlands. The building, which is slated for a third-quarter delivery, features a clear height of 36 feet, 120 dock positions, three drive-in doors and parking for 134 trailers and 212 cars. A joint venture between Bluewater Property Group and Affinius Capital owns Hudson Valley Logistics Center. Rob Kossar, David Knee, James Panczykowski, Dave MacDonald and Charlotte Belling of JLL negotiated the deal on behalf of both parties.

June 4, 2024

Acquisitions Illinois Midwest Multifamily

MLG Capital Acquires 272-Unit Orchard Village Multifamily Property in Aurora, Illinois

by Kristin Harlow June 4, 2024

AURORA, ILL. — MLG Capital has acquired Orchard Village, a 272-unit multifamily property in the western Chicago suburb of Aurora. The purchase price was undisclosed. Built in 2000, the community is located at 1240 W. Indian Trail. Amenities include a heated pool, clubhouse, fitness center and dog park. MLG acquired an interest in the property using 1031 exchange proceeds from its Legacy Fund, which offers a tax-deferred exit strategy for private real estate owners. Orchard Village marks MLG’s ninth acquisition in metro Chicago. The firm owns more than 1,700 units in Illinois.

June 4, 2024

Affordable Housing Development Midwest Multifamily Wisconsin

McShane to Build 203-Unit Affordable Housing Community in Brookfield, Wisconsin

by Kristin Harlow June 4, 2024

BROOKFIELD, WIS. — McShane Construction Co. will serve as the general contractor for Bishops Woods, a 203-unit affordable housing community in the Milwaukee suburb of Brookfield. Located on nearly four acres at 350 Bishops Way, the development will feature a podium-style building rising four stories atop a two-story, underground parking garage. Units will come in one- to three-bedroom floor plans and will be reserved for residents who earn 40 to 80 percent of the area median income. Eight live-work units will be available for renters who wish to have an office suite or studio with a separate exterior entrance. Amenities will include a clubroom, fitness center, outdoor grill area and playground. The project was designed to meet Wisconsin Green Built Home Standards and will feature a solar array on the rooftop along with high-efficiency electric heat pump systems. Completion is slated for December 2025. Knothe & Bruce Architects is the project architect.

June 4, 2024

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